Chapter 9: Net Present Value and other Investment Criteria
2) answer (1) assuming that the interest is compounded monthly. There are two ways to do this: (1) Enter the monthly interest rate and the number of months in 40 years: PMT = 0, PV = -1,000, I/Y = 8/12, N = 40 x 12 then hit FV and CPT to get 24,273.3855. ................
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